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six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon could take the biggest hit from president obama told defense experts monday, don't worry. >> even as we make very tough fiscal choices, we're going to keep investing in these programs. >> reporter: he went online on youtube and twitter explaining why he thinks the rich should pay more. going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for million
six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy....
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Dec 4, 2012
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what does president obama think of speaker boehner's proposal to avert the fiscal cliff? >> unfortunately, the speaker's proposal right now is still out of balance. he talks about $800 billion worth of revenues but says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> reporter: he won't agree to eliminate a tax deduction for contributions to charity. >> every hospital and university and nonfor profit agency across the country would find themselves on the verge of collapse. so that's not a realistic option. >> reporter: but the president didn't say all this to speaker boehner. he said it in an interview on bloomberg tv. the last time the two men spoke was almost a week ago. president obama is focused on the stalemate with congress over averting the fiscal cliff, but he's just not talking to house republicans about it. at the white house, he discussed the issue with a bipartisan group of governors. >> i know that the president wants a deal and he didn't try to handicap it. >> reporter: earlier this week, he told so-called middle class
what does president obama think of speaker boehner's proposal to avert the fiscal cliff? >> unfortunately, the speaker's proposal right now is still out of balance. he talks about $800 billion worth of revenues but says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> reporter: he won't agree to eliminate a tax deduction for contributions to charity. >> every hospital and university and nonfor profit agency across the country would find...
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Dec 4, 2012
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tea party two is going to dwarf tea party one if obama pushes us off the cliff. >> there's a dr. strangelove. how many republicans will be willing to stand up to that threat? david corn is here to talk about it, the washington bureau chief for mother jones and the author of "47 percent." he's a member of the gridiron society. and john feehery is a republican strategist. grover -- you're playing defense here -- one man elected to nothing. the fact that saxby chambliss comes up, i don't have to live up to some pledge i made 20 years ago and calls up and has grover on the phone going through the transcript of what he said and he's apologizing for each segment of it. what's going on? a senator has to kiss butt to this guy? >> i have known grover for a long time, and i like him, and he's representing -- >> you're afraid of him, too. >> i'm not afraid of him. he represents a cause, and he's been amazingly successful because taxes have gone down for a long time because of grover. what do we know, because taxes are automatically going up. republicans understand if you have to cut a deal,
tea party two is going to dwarf tea party one if obama pushes us off the cliff. >> there's a dr. strangelove. how many republicans will be willing to stand up to that threat? david corn is here to talk about it, the washington bureau chief for mother jones and the author of "47 percent." he's a member of the gridiron society. and john feehery is a republican strategist. grover -- you're playing defense here -- one man elected to nothing. the fact that saxby chambliss comes up, i...
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Dec 4, 2012
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today president obama again made clear there will be no deal to avert the so-called fiscal cliff without the rich paying a higher tax rate. got it? higher rate. in this interview on bloomberg tv, he made it. let's listen. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlements that i'm prepared to make, that we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> there you heard it again, top rates have to go up and rates. and some republicans are saying that the gop will ultimately say uncle. conservative columnist byron york, a very smart guy wrote, quote, republicans will cave on the question of raising the tax rate for the highest income americans. the only question is whether they do so before or after the government goes over the so-called fiscal cliff "new york times" column us david brooks describes it this way. republicans will be raising middle class tacks
today president obama again made clear there will be no deal to avert the so-called fiscal cliff without the rich paying a higher tax rate. got it? higher rate. in this interview on bloomberg tv, he made it. let's listen. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlements that i'm prepared to make, that we're going to have...
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Dec 4, 2012
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this after a 90-minute meeting with president obama at the white house this morning where they called for a quick resolution. the governors spoke to reporters at the white house for 15 minutes after that meeting and we'll show you as much as we can until the house gavels in in just a few minutes. >> well, goorn, everybody. i'm jack, the chair of the national governors association, the governor of delaware, joined by governor fallen of oklahoma, she's the vice chair -- governor fallin of oklahoma, she's the vice chair. the governor of arkansas. we are three democrats and three republicans. we just had what i would say was a very good meeting with the president. we came in part to make sure that the voices and the issues that we face as governors in states are heard and considered as part of the discussions going on here in washington. the president was very open to that. said we would continue to have a seat at the table. we talked about some of the issues that we often focus on as gompors. one of those being opportunities for flexibility in terms of some of the programs we partner wit
this after a 90-minute meeting with president obama at the white house this morning where they called for a quick resolution. the governors spoke to reporters at the white house for 15 minutes after that meeting and we'll show you as much as we can until the house gavels in in just a few minutes. >> well, goorn, everybody. i'm jack, the chair of the national governors association, the governor of delaware, joined by governor fallen of oklahoma, she's the vice chair -- governor fallin of...
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republicans and joined obama to extend the bush era tax rates. first time university law professor looked at the history of the alternative minimum task -- tax. cluster e-mails, phone calls and tweets. tuesday at 7:00 a.m. eastern on c-span. more about the tax loopholes and deductions that could be involved in negotiations over the fiscal cliff. from our special washington journal series, this is 50 mins. >> we turn our attention today to deductions and tax -- tax loopholes. joining us to talk about this is john mckennan, thank you for being here. what are loopholes and deductions? we hear those words a lot. guest: loopholes or tax breaks of all different sorts. whether you like a particular loophole or not depends on where you sit. there are lots of loopholes that are deductions. deductions are the ones most people are familiar with. the big itemize deductions are things like a home mortgage interest deduction. there is one for state and local taxes that is very important. the deduction for charitable contributions. then they're all kinds of oth
republicans and joined obama to extend the bush era tax rates. first time university law professor looked at the history of the alternative minimum task -- tax. cluster e-mails, phone calls and tweets. tuesday at 7:00 a.m. eastern on c-span. more about the tax loopholes and deductions that could be involved in negotiations over the fiscal cliff. from our special washington journal series, this is 50 mins. >> we turn our attention today to deductions and tax -- tax loopholes. joining us to...